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Expanding and Improving Health Savings Accounts (HSA)

This act expands the eligibility and utility of Health Savings Accounts (HSAs), allowing more individuals to save for medical expenses. It increases contribution limits and permits the use of HSA funds for a broader range of medical services, including insurance premiums and direct medical service fees, potentially offering financial relief in daily health management.
Key points
More individuals will be eligible for HSAs, regardless of their health plan type, including those covered by Medicare, Medicaid, or veterans' programs.
Annual HSA contribution limits will significantly increase, allowing for greater savings for future medical expenses.
HSA funds can now be used to pay for health insurance premiums and fees for medical services provided through subscription or direct care arrangements.
The penalty for non-qualified HSA distributions will be reduced, offering greater flexibility in managing funds.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_725
Sponsor: Rep. Roy, Chip [R-TX-21]
Process start date: 2021-02-02
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Personalized Care Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_725.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-02.

What are the main provisions?

Key points include:

  • More individuals will be eligible for HSAs, regardless of their health plan type, including those covered by Medicare, Medicaid, or veterans' programs.
  • Annual HSA contribution limits will significantly increase, allowing for greater savings for future medical expenses.
  • HSA funds can now be used to pay for health insurance premiums and fees for medical services provided through subscription or direct care arrangements.
  • The penalty for non-qualified HSA distributions will be reduced, offering greater flexibility in managing funds.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Roy, Chip [R-TX-21].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Health Taxes